Obton, GSSG Solar to Acquire 117MW Japanese Solar Projects
DENVER, COLORADO, UNITED STATES, June 26, 2024 — GSSG Solar, LLC (“GSSG”) and its affiliates are pleased to announce our first joint venture with Obton A/S (“Obton”), headquartered in Denmark, to acquire nine Japanese solar projects totaling 117 MW. Eight of the projects are in operation (104 MW), while one of the projects is under development (13 MW). The operational projects were placed into production between 2017 and 2022.
This portfolio of projects is expected to generate enough electricity to offset needs of over 30,000 Japanese households. In addition, it is estimated that the projects will lessen global carbon emissions by over 58,000 tonnes per annum. These projects are part of the Feed in Tariff program Japan introduced in 2012 and will provide electricity to a wide area with projects located in seven prefectures.
This partnership highlights the strong relationship that GSSG and Obton have built over the last three years. Prior to this transaction, Obton acquired GSSG’s largest solar asset (82 MW) located in Fukushima Japan.
Charlie McDaniel, Partner, Head of Origination at GSSG Solar, LLC said, “GSSG prides itself on deepening existing relationships with respected partners. We have enjoyed the partnership with Obton and look forward to continuing our relationship with them on additional projects in the future.”
Yoshiyasu Sumi, Partner, Country Manager of GSSG Solar Japan Inc said, “We look forward to adding these projects to our existing robust Asset Management Platform, where we have a long track record of adding value to operating projects.”
Mikkel Berthelsen, Chief Acquisition Officer of Obton, said, “We are thrilled to partner with GSSG Solar on this transaction, marking a significant milestone in our efforts to expand our renewable energy portfolio in Japan. This collaboration underscores our commitment to sustainable energy and highlights the strength of our partnership with GSSG. We are excited about taking our collaboration further in the future.”
GSSG Solar, LLC is a global solar-focused renewable energy investment manager founded in 2013 with offices in Denver (headquarters), Tokyo & Taipei. Since inception, we have invested in over 500MW of solar projects primarily located in Japan with a portion in Taiwan and the US.
Obton is a prominent player in the development and acquisition of solar PV and BESS projects, primarily across Europe, as well as in the APAC region and Canada. Obton’s strategic approach encompasses involvement in both develop-to-own and develop-to-sell initiatives, providing opportunities for institutional investors to participate in large-scale solar PV and battery storage
projects.
Tomakin Archambault
GSSG Solar, LLC